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On January 1,2013,Jacob Issued $600,000 of 11%,15-Year Bonds at a Price

Question 85

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On January 1,2013,Jacob issued $600,000 of 11%,15-year bonds at a price of 102½.The straight-line method is used to amortize any bond discount or premium and interest is paid semiannually.All interest has been accounted for (and paid) through December 31,2018.The company retires 30% of these bonds by buying them on the open market at 98½. What is the journal entry to record the retirement of 30% of the bonds on January 1,2019?


A) On January 1,2013,Jacob issued $600,000 of 11%,15-year bonds at a price of 102½.The straight-line method is used to amortize any bond discount or premium and interest is paid semiannually.All interest has been accounted for (and paid) through December 31,2018.The company retires 30% of these bonds by buying them on the open market at 98½. What is the journal entry to record the retirement of 30% of the bonds on January 1,2019? A) B) C) D) E)
B) On January 1,2013,Jacob issued $600,000 of 11%,15-year bonds at a price of 102½.The straight-line method is used to amortize any bond discount or premium and interest is paid semiannually.All interest has been accounted for (and paid) through December 31,2018.The company retires 30% of these bonds by buying them on the open market at 98½. What is the journal entry to record the retirement of 30% of the bonds on January 1,2019? A) B) C) D) E)
C) On January 1,2013,Jacob issued $600,000 of 11%,15-year bonds at a price of 102½.The straight-line method is used to amortize any bond discount or premium and interest is paid semiannually.All interest has been accounted for (and paid) through December 31,2018.The company retires 30% of these bonds by buying them on the open market at 98½. What is the journal entry to record the retirement of 30% of the bonds on January 1,2019? A) B) C) D) E)
D) On January 1,2013,Jacob issued $600,000 of 11%,15-year bonds at a price of 102½.The straight-line method is used to amortize any bond discount or premium and interest is paid semiannually.All interest has been accounted for (and paid) through December 31,2018.The company retires 30% of these bonds by buying them on the open market at 98½. What is the journal entry to record the retirement of 30% of the bonds on January 1,2019? A) B) C) D) E)
E) On January 1,2013,Jacob issued $600,000 of 11%,15-year bonds at a price of 102½.The straight-line method is used to amortize any bond discount or premium and interest is paid semiannually.All interest has been accounted for (and paid) through December 31,2018.The company retires 30% of these bonds by buying them on the open market at 98½. What is the journal entry to record the retirement of 30% of the bonds on January 1,2019? A) B) C) D) E)

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